Inheriting tenants and no move-in inspection

[Todd M.]

Hey everyone,

I'm in the process of purchasing a multi-family apartment building and just discovered none of the current tenants have any kind of move-in inspection.  A bit weird for me.  I'm use to a move-in inspection documenting the condition of everything at time of move-in.  Now, I'm imaging a scenario when every one of these tenants move out that I'll be paying their entire security deposit + interest even if there are damages beyond normal wear and tear.  Example of what a tenant might say - this 2x2' stain on 2 year old carpet was already there when I moved in.  

Any words of wisdom for this situation? 

[Greg M.]

You can't change the past. Document the condition now and if it changes by when they move out, you can charge. 

If it concerns you that much, adjust the purchase price to take into account this added risk.